Ask questions on market failure
Understand the Problem
The question is asking for information or questions related to market failure, which is a concept in economics that describes a situation where the allocation of goods and services is not efficient.
Answer
Market failure occurs when a market economy fails to allocate resources efficiently.
Market failure occurs when a market economy fails to allocate resources efficiently, leading to a net social welfare loss.
Answer for screen readers
Market failure occurs when a market economy fails to allocate resources efficiently, leading to a net social welfare loss.
More Information
Market failure can result from various issues, such as externalities, public goods, market power, or asymmetric information. It is a situation where market forces do not lead to the efficient allocation of resources, and usually, this failure is linked with the need for government intervention.
Sources
- Market Failure: What It Is in Economics, Common Types, and Causes - investopedia.com
AI-generated content may contain errors. Please verify critical information
